Changing of the guard at FpML.org board

A number of changeovers have taken place on the board of FpML.org, the non-profit organisation developing an XML- (extensible mark-up language) based standard for OTC derivatives trading.

Mark Beeston, chief operating officer for OTC derivatives at Deutsche Bank; Richard Cohen, a managing director at Bank of America; Drew Gross, a managing director at JP Morgan Chase; David Long, chief operating officer for developed market rates at Credit Suisse First Boston; and Ardavan Nozari, a managing director at Citigroup, have all joined the FpML.org board as representatives of their respective banks.

"These new directorships represent a 'passing of portfolio' within their respective companies," said Philippe Khuong-Huu, a Goldman Sachs managing director and chairman of FpML.org. "The board is comprised of senior derivatives business leaders from major market participants... [who] volunteer their time to set overall goals, priorities and direction for financial products mark-up language within the OTC derivatives trading industry."